Samsung, SK Hynix, and Micron have long split the global memory market between them — but AI data centers are straining supply, and device makers are hunting for alternatives. Into that gap stepped CXMT: shares surged 466 percent on its Shanghai debut, making it the most valuable Chinese company on the exchange.
Founded in 2016, CXMT is still "roughly one generation" behind the big three on specs, holds
8% of global RAM as of June 2026 — and is blacklisted by the Pentagon, which didn't stop Apple from asking the Trump administration for permission to buy its chips anyway.One generation behind on tech, half a trillion on the ticker. The gap between hype and specs has rarely been this photogenic.
The Verge